Bingaman Measure Approved to Expand Use of Renewable Energy

From the DPNM Victory Line:
Right off the bat, the U.S. Senate adopted a measure written by U.S. Senator Jeff Bingaman that ensures electric companies will generate more of their power from renewable sources such as the wind and the sun.

In a 52-48 vote Bingaman’s amendment was added to the Senate version of the energy bill.  The Bingaman provision calls on electric utilities to generate 10 percent of their power through renewables by 2020; that requirement is called the “renewable portfolio standard.”

“Our country is growing increasingly dependent on coal and natural gas to generate electricity.  In my view, we must seek ways to diversify our sources of energy.  We can and we must find ways to adopt new technologies such as wind, solar and biomass power. That is exactly what this provision does,” Bingaman said.

Bingaman’s measure allows for a gradual transition into the renewable requirement, beginning with 1 percent of the company’s sales base in 2005 and increasing to 10 percent in 2020.

One major benefit to Bingaman’s amendment is the fact that it likely will spur rural economic development and create tens of thousands of jobs nationwide in the manufacturing and construction of renewable energy facilities.  And it sets the United States back on a course to being the world leader in renewable technologies.

“The United States was once a world leader in the manufacture of renewable technologies.  This provision will help create a robust domestic market for the technologies that will help U.S. suppliers to recapture their former dominance in these markets,” Bingaman said.

Bingaman pointed out that New Mexico has is its renewable portfolio standard at 10 percent by 2011. 

“Our state has embraced renewable energy and it is leading our country in finding ways to rely more heavily on renewable resources and less on imports,” Bingaman said. 

The Energy Information Administration estimates that the Bingaman amendment would result in a $22.6 billion savings for consumers. 

Also, see the Albuquerque Tribune's coverage, which leads off by saying: “The Senate finished its first week of work on the energy bill by handing a big victory to Sen. Jeff Bingaman.”

Editor's Note: A Senate vote on its version of the energy bill is expected Tuesday morning. Here's an assessment of the bill by the American Council for An Energy-Efficient Economy with links to detailed analyses of both the Senate and House versions of the energy bill. The Natural Resources Defense Council provides analysis of the more damaging aspects of the bill and a link to its complete text.

You can contact Senator Bingaman at his website.